Modelling in the Case of a Heterodox Economist: Success and Failure of Michał Kalecki

The author proposes to look at the work of M. Kalecki through lens history economic thought informed by methodology economics, applying this aim a meta-economic model suggested U. Mäki, enhanced with additional features. On basis review main works Kalecki, he finds that we cannot ascribe his virtually any factors proposed Mäki as explanation orthodox modelling failure. If it is so, question may be asked why more correct based on Kalecki’s theory and post-Keynesian theories has not been recognized successful. It seems mainstream economics an informal institution, yet strengthened formal rules, which unforgiving heterodox economists. have paradigmatic case successful academic economist, significant innovations in analyses capitalism, socialism, intermediate regimes, all were ultimately rejected dominant social forces day, signalling ‘modelling failure’ policy-institutional contexts. indeed case, then Mäki’s fails provide failure economics.